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SME: 'Due date of sight bill should be counted from date of presentation'

What a firm seeking supplies from abroad on credit should do in case there is an error in the contractual documents

Helpful changes in Customs and GST procedures

Many Customs notifications allow imports at lower or nil rates of duty, specified goo­ds for use in the manufacture of specified products

Ukraine crisis aggravates inflation, growth concerns

In recent years, the investments in mining fossil fuels have declined globally due to growing concerns

Restrictive GST rules take effect

Many changes in the GST laws have come into effect from the beginning of this year

Key role for WTO to meet emission targets

The 12th Ministerial Conference of WTO is scheduled to start at Geneva from the end of this month

SME Chatroom: Anti-dumping duty on inputs payable on sales from SEZ to DTA

Business Standard brings you the fortnightly Q&A on SMEs

Shipping industry's zero-emission trials

The key to achieving reduction of emissions is development of alternate fuels by the oil industry

SME Chatroom: 'IGST refund rules for exports by EOUs need to be reviewed'

Business Standard brings you the fortnightly Q&A on SMEs

Ports' right to bar imports needs review

The advisory applies to all terminals operated by APSEZ and third-party terminals at any of its 13 domestic ports in seven maritime states. This decision raises a number of issues

FinMin should review DRI demand for social welfare surcharge

The law is quite clear that SWS is to be calculated at the rate of 10 per cent on the BCD levied and collected

SME Chatroom: 'Defective packaging can imperil marine insurance claims'

Clause 4.3 of Institute Cargo Clauses (C) says that in no case will insurance cover loss, damage or expense caused by insufficiency or unsuitability of packing or preparation of subject matter insured

SME Chatroom: 'ITC available based on IGST payment shown in bill of entry'

In the case of related party transactions, where contemporaneous imports/exports are not available, the matter goes to the Special Valuation Branch for further investigations

Businesses should give useful inputs for FTA negotiations

FTAs have to be signed keeping two things in mind - mutually reciprocal terms and focusing on products and services with maximum export potential

Winners and losers in shipping crisis

Indian exporters complain of increase in freight rates by 300% to 1000% for various destinations and additional charges

Asset monetisation plan gives a bigger role to private operators

When implemented, the entities engaged in cross border trade in merchandise will deal more with private entities managing the ports and airports

Deduction of interest due to prepayment of usance bill is allowed: Expert

Exporters may approach AD Category-I banks for reduction in invoice value on account of cash discount to overseas buyers for prepayment of the usance bills

RoDTEP scheme is different from MEIS

Exporters of chemicals, pharmaceuticals, steel etc. are unhappy that their products have been left out of the RoDTEP scheme

SME Chatroom: Duty drawback permitted on FOB value without bank charges

Agency commission and foreign bank charges, separately or jointly, exceeding this limit should be deducted from the FOB value for granting duty drawback, the CBIC says

Govt must ask exporters how diplomats can help

The External Affairs Ministry and the Commerce Ministry should interact with the exporters and find out what they actually need from our diplomats abroad and try to meet their specific requirements

SME Chatroom: Destruction of goods warrants reversal of input tax credit

Submit copies of correspondence with the buyer to the bank explaining the reasons for the inward remittance